Office Space Market in Bengaluru

1
Office Space Market in Bengaluru

• Commercial Office Bangalore

2

• IBM and the shared services arm of UK-based
  auditing and consulting major EY are in the
  process of taking 500,000 sq ft of office space
  each at different business parks in Bengaluru.
• IBM has committed to take the office space in
  Bhartiya City, an integrated property project at
  Thanisandra in Bengaluru.
• The EY arm has taken similar space in Bagmane
  Tech Park.

3

• Rent expected to pay
• IBM is expected to pay around Rs 45 a sq ft or Rs
  27 crore yearly as rent.
• EY is expected to pay Rs 65 a sq ft or Rs 39
  crore a year.
• The entire building with 550,000 sq ft has been
  leased out and the majority taken by IBM.
• Though the size of office lease deals in
  Bengaluru has come down compared to last year,
  the numbers of these are increasing at a fast
  clip.

4

• JPMorgan took 220,000 sq ft at Embassy Golf Links
  Business Park in Bengaluru for a support centre.
• JC Penney, took 130,000 sq ft at Embassy Manyata
  in Bengaluru.

5

• The Outer Ring Road Leasing
• Wells Fargo leasing 860,000 sq ft at Embassy
  Tech Village.
• Oil major Shell leasing 788,000 sq ft at RMZ Eco
  World.
• Amazon leasing 500,000 sq ft at Constellation
  Business Park.
• The city leases around 3 million sq ft of office
  space every quarter.
• Bengaluru is the first choice of any
  multinational company entering or expanding in
  India.

6

• The city climate and entire ecosystem are very
  conducive for the IT and IT-enabled services
  (ITeS) industry.
• Bengaluru has reached scintillating heights as a
  commercial real estate destination.
• The city's rapid progress in technology and
  global connectivity has helped drive real estate
  growth.
• According to Colliers International, the city,
  with 13.43 mn sq ft of annual office space
  absorption and 12.85 mn sq ft of new
  construction, continues at number one position.

7

• 33 per cent and 41 per cent, respectively, in
  total absorption and new supply among the eight
  major cities in the country last year.
• The city's traditional primary office demand
  driver, IT/ITeS, took 57 per cent (7.7 mn sq ft)
  of the total absorption.
• Followed by the banking, financial services and
  insurance segment at 20 per cent and
  manufacturing at 13 per cent.
• Others were nine per cent.

8
Referencehttp//www.business-standard.com/artic
le/companies/bengaluru-s-vibrant-office-space-mart
-116020800023_1.htmlhttp//www.commercialofficeb
angalore.com/
9

• Thank You...